is michael calhoun, president of, president for the center for responsible lending. next event is lisa rice, vice president of the national fair housing alliance. then alys cohen, staff attorney for the national consumer law center. and then if i move all the way to my right inside, susan wachter who is a professor for state and finance at wharton school at the university of pennsylvania. david moskowitz is deputy general counsel at wells fargo, and karen thomas, senior executive vice president of government relations at the independent community bankers association of america. thank you all for being here. and perhaps we might start with you, mr. calhoun. >> thank you. today, the cfpb announces one of its most important rules, a qualified mortgage ability-to-repay rule, along with the upcoming mortgage servicing rules that will come out next week, address failures in the mortgage market, the devastated -- a devastating millions of families and our overall economic. twin drivers of this were widespread, unaffordable loans, and a broken mortgage servicing system that severely aggravated the
